Vechain holders can now shop on eBay and other platforms, due to the partnership with Shopping.io. The platform has two of its own native tokens known as $SPI and $GSPI. This can be used at the time of purchase for additional discounts. According to the official Twitter post, the company said:
VeChain (VET) Gaining Relevance in China
The VeChain Foundation recently announced an important partnership. These include e-commerce, the environment and other sectors. The organization is part of the food safety summit of the China Animal Health and Food Safety Alliance (CAFA) on July 7, 2021.
The organization consists of some well-known figures in the industry, such as Starbucks, Unilever China, Mars China, Yum China and Cargill. Others are listed below.
Member of the China Animal Health and Food Safety Alliance (CAFA). Source: VeChain Foundation
VeChain is the alliance’s only public blockchain provider. During the summit, the foundation spoke about:
“(…) The fundamental potential of agricultural traceability connects and transforms the entire value chain, from the producer to the customer to the authorities.”
The government agency is directly subordinate to the Central Academy of Fine Arts-China Agricultural Science and Technology Innovation Alliance. Founded by the Ministry of Agriculture of the People’s Republic of China, VeChain’s participation in the summit shows the importance of this platform among Asian giants.
The alliance has started using blockchain technology to build a traceable system. Members of this program can record, share and protect data on the VeChainThor blockchain. This increases trust between the end-user and the company.
At the time of writing, VET is trading at $ 0.07 and is following prevailing market sentiment. As a result, it posted significant losses on the 7-day (-11-1%) and 30-day (-33.1%) charts.
VET trending down on the daily chart. Source: TradingView